Currency Conversion

Whom we serve?

• Companies whose ongoing operations involve use of foreign currency and need conversion services and protections from currency rate fluctuations. Among our clients are exporters, importers, tourism businesses and hi-tech companies with foreign currency revenue stream and shekel expense stream and with a variety of other needs.
• Private clients who perform currency conversions in significant amounts or on a regular basis for a variety of needs: acquisition of overseas properties, new immigrants, foreign currency salary recipients and a variety of other needs.

Foreign Exchange Conversion Costs

When converting foreign currency at the bank, an exchange commission is charged. However, but what most people are not aware of is that the exchange commission is small part in the total conversion cost, as the substantial part of the cost is in the conversion rate at which the bank performs the transaction. The difference between the buy rate and the sell rate (the conversion spread) often amounts to several percents of the conversion transaction value. At Meitav Trade, no exchange commission is collected and the conversion spread is much tighter.

Forward Rate Protection Transaction

In addition to conversion (buy or sell), Meitav clients can perform advanced transactions. For example, where an amount of foreign currency is pending for receipt or for transfer, and the client wishes to protect the exchange rate ahead of time, a forward rate protection transaction against anticipated future cash flow – a forward transaction – may be performed. This is just one of several advanced transactions available at Meitav.